Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Agreed, a feasible line of thought, however I would expect an in principle offer could be made, subject to final checks and balances being signed off by both sides (announced next week). Having been through takeover/merger situations myself, 8 weeks to cover off fairly extensive due diligence is ample time and the potential bidders will have a firmed up view at to their intention by now.
My suspicion is that the AA board will be desperately trying to put in place alternative options to raise capital, for debt reduction.
I predict equity raising through a rights offer or steady state whilst they continue discussions (assuming they’re are in place) re refinancing Via other means.
"Should the current discussions continue positively, however, the Board currently expects that a further extension of the deadline will be required."
And further up on the announcement "...number of matters including, inter alia, the completion of the Consortium's due diligence and the finalisation of documentation. " as should take days maybe weeks more. So this should not come as a shock. If you can not wait, then sell now, otherwise, sensibly hold for a long as needed.
https://www.lse.co.uk/rns/AA./update-on-offer-discussions-wz3jdyut9671oo9.html I expect the extension to come a day early.
Apologies if I am missing something, but what are the indicators and/or information in the public domain that point to a 28 day extension?
Yes but they need to 'confirm' they intend to make a firm offer to get that extension by 17:00. GLA
Just to re-iterate Tuesdays update a 28-day extension is good as granted. So when the RNS lands there should not be a drop. If anything it should be up massively! If there is a drop the current fluctuations are just stupid noise and would buy more.
I am going to guess an extension however to be announced early together with the H1 results.